Many of the world’s economies are still struggling to recover from the global financial crisis. The threat of a crisis Mark II is not out of the question, though it’s unlikely, says Anne Krueger, a former chief economist of the World Bank, and first deputy managing director of the International Monetary Fund from 2001 to 2006. Speaking at an Australian School of Business forum on global competitiveness, Krueger evaluates efforts to untangle the aftermath of the crisis and determines...

Australia, with its sound and well-managed financial system, stands to reap significant benefits from the economic growth in Asia. But a key question remains: how should Australia position itself in the Asian century? Reaching a consensus on this is crucial, according to Masahiko Takeda, deputy director of the International Monetary Fund in the Asia Pacific, and the fund’s division chief, Cheng Hoon Lim. The IMF experts acknowledge that the Aussie dollar is presently overvalued....

Macquarie Group has surplus capital on the balance sheet and continues to seek businesses which meet its acquisition criteria, as chief executive Nicholas Moore highlighted at the annualgeneral meeting of Australia's only listed investment bank in July. In the wake of the financial crisis, the group made successful acquisitions in funds management but – with its sharp eye on shareholder value and the risk-return equation – finds quality assets are in short supply. Volatile times may have...

Despite signs of a dramatic slowdown in Asia, HSBC – one of the world's largest banks and the world's second largest public company by market capitalisation – is bullish on the long-term future of the region. Australian companies are already leveraging the economic growth of Asia, and Paulo Maia, chief executive of HSBC Australia, predicts there will be plenty more opportunities in the Asian century. He's looking beyond China and India to the growth markets of Malaysia, Indonesia,...

Only about 2.5 million individuals directly use the Australian Taxation Office's online e-tax facility, while a further 9 million now file online via tax agents, which means forking out for the extra compliance costs. A mere half a million use the old paper method. Commissioner of Taxation Michael D'Ascenzo well recalls the initial hue and cry about "big brother watching" when the returns went online in 2007. Regardless of delivery mode, research shows most Australians "don't mind"...

Electric and biofuel-powered cars offer solutions for a carbon-constrained world, but has early excitement about alternative fuel vehicles fizzled prior to the July 1 start date for Australia's carbon tax? Before the rubber really hits the road and hybrids and "plug-in" cars become mainstream, there’s still a myriad of issues to be addressed. Infrastructure is one, while research shows some biofuels may generate more problems than they solve. The shift to alternative fuel cars must...

A unique concept and dogged persistence have made Paul Cave one of Australia's most celebrated entrepreneurs. Thanks to his tenacity, millions now have climbed the iconic Sydney Harbour Bridge to enjoy the awe-inspiring view from the top of one of the world's most famous landmarks. Establishing BridgeClimb took the experienced businessman and his partners nine years, dealing with numerous government bodies, community groups and experts on safety, logistics, media and heritage. In an...

The three Ps – population, (workforce) participation and productivity – are inextricably linked to Australia's future prosperity and standard of living. National productivity levels are under threat as the population ages. As baby boomers retire, the changing demographics will have a profound impact on workforce participation levels. Immigration is considered one quick fix to the workforce participation problem, but it's contentious. And with the rules about to change to streamline the...

Treasury chief Martin Parkinson's recent announcement that Australia's top economic agency would adopt a long-term target of making 40% of senior executives women was big news, but perhaps not before time. The movement of women into top leadership roles in Australian organisations has been excruciatingly slow. And there's no single silver bullet solution, insists outspoken blogger Jen Dalitz, the globally recognised SheEO of gender balance consultancy sphinxx. To mark International...

A two-year study into the services sector – where 85% of employed Australians now work – shows intangible factors, such as progressive leadership, the employee experience and innovation, may have a far greater impact on an organisation's profitability than old-school number crunching, cost-cutting and capital considerations. As manufacturing dwindles in significance, a shift in focus to intangible attributes presents the new way forward for employers. Now the federal government-funded...

Geoff Harcourt is perhaps one of Australia’s most well known economists. A Cambridge pupil of John Maynard Keynes, he is best known for his role in Cambridge Controversies in the Theory of Capital. This was the theoretical and mathematical debate that raged during the 1960s among economists concerning the role and nature of capital goods (also known as the means of production) and the critique of the dominant vision of aggregate production and distribution (held to be the neoclassical...

Is the seemingly powerful G20 all talk and no action? With no executive power to deliver on policies, the impressive group of 20 developed and developing countries relies on its members to follow through at a national level. Although the group was not close to finding an urgently needed solution for bailing out indebted European nations at its recent Cannes meeting, help may be provided voluntarily. Clearly, global financial architecture needs a rethink, says Fariborz Moshirian, a...

Tim Harcourt spent years traversing the globe in pursuit of opportunities for industry as the chief economist at Australia's trade marketing organisation, Austrade. Now "the airport economist" has landed as the newly appointed JW Neville Fellow in Economics at the Australian School of Business, bringing a unique perspective on Australia's place in the global economy. The lucky country has often created its own luck, and fears of Australia's over-dependence on China are unfounded,...

Could Steve Jobs have succeeded in the Australian entrepreneurial environment? As the world continues to mourn the loss of a great innovator and entrepreneurial visionary, Martin Bliemel, head of the Centre for Innovation and Entrepreneurship at the Australian School of Business, considers the drivers of Jobs' extraordinary success and the factors that gave rise not only to great tech innovation but so many ubiquitous gadgets. In the Australian context, even Jobs might have struggled...

All is still not equal in the workforce when it comes to earning power. Income equality took a sharp U-turn in Australia in recent years. The metaphorical glass ceiling continues to repel women who predominate in part-time roles. Their willingness to rejoin the workforce is also dampened by the tax system in Australia, which provides a disincentive for women to return to work after having children. The whole system needs a shake-up, argues Australian School of Business professor Denise...

In a business relationship – as in any other – small things are often the most annoying. Smiley faces on emails, wet-fish handshakes and the clang of the teaspoon on the side of the mug during a meeting may seem trivial, but they can be extremely irritating for colleagues, prospective partners and clients. Understanding how to keep behaviour neutral is key, according to Danielle Di-Masi, a business etiquette expert who coaches leaders in building the right perceptions for business...

From video games to remote surgery, virtual possibilities abound. In workplaces, distributed teams and simulations are considered smart productivity-enhancing ways of tapping into new technologies. However, the virtual world needs a reality check, argues Stanford University's Stephen Barley, an expert in the impact of new technologies at work. Cutting edge it may be, but virtuality is not directly reducing costs for business, instead it's increasing accuracy and accelerating turnaround...

Sources of innovation have exploded over the past decade as companies no longer look internally for bright ideas but also tap into the public's smarts via the Internet. The possibilities are seemingly infinite, so pinning down exactly which next new things to develop requires a clear understanding of the big picture. Patrick Medley, managing partner of Global Consumer Products at IBM Business Services, identifies three game-changing trends coming from the evolution of smart phones – the...

Over-excitement or disappointment from wannabe buyers on eBay is commonplace. But will all that change with the proliferation of double-sided markets that bring together buyers and sellers to fix prices and exchange goods more efficiently? Calculating risk on a double-sided market is complex, so much so that game theorists have not been able to understand how it's done, says Peter Bossaerts, a professor at the California Institute of Technology. However, people are surprisingly comfortable...

Change is inevitable but successfully implementing it is one of the trickiest tasks facing managers. Organisational changes can be mightily expensive, both now and in the future, not least because employees have long memories. And it's not only the big adjustments, such as mergers and downsizing, which impact. Even small details like a logo change can affect an employee's sense of workplace identity. Alannah Rafferty, a lecturer in Organisation and Management at the Australian School of...

India's 15-year-long economic boom has enthralled the world. Lately speculation over bubbles and a bust has arisen as the Indian government struggles to keep a lid on inflation. Warnings have also come from the Organisation of Economic Co-operation and Development about risks from over-regulation in India. Kaushik Basu, a professor of economics at Cornell University in the US and the chief economic advisor to the Indian Ministry of Finance, has joined the debate about opening sectors...

Is the US economy already bankrupt? The world's largest economy reached its statutory debt limit last month. The US Congress must raise the US$14.3 trillion debt ceiling by 2 August 2011 to avoid the government defaulting on its loans. Renowned economist Larry Kotlikoff, a professor at Boston University, insists the US was broke long before the global financial crisis. US governments have been disguising the real level of national debt for decades, claims Kotlikoff who tips an imminent...

International surveys show Australia has the most "unaffordable" housing in the world. Now a reported property bubble – coupled with rising interest rates – are applying further pressure. With too few houses being built to meet demand, it's widely agreed that the housing crisis must be addressed, but how? Australia's Future Taxation System Review, chaired by retired Treasury chief Ken Henry, recommended eliminating stamp duty on house sales. However, Henry review panel member, John Piggott,...

Australia's superannuation savings may be the envy of the world with A$1.23 trillion now in the pot to help its ageing population live more comfortably in retirement. But Australia's approach to retirement saving is only half right, according to David Blake of the UK's Pensions Institute, who spoke at a recent Australian School of Business conference on longevity risk. Substantial super savings may have helped the nation to weather the financial crisis, but they will not go the...